The Inability to Be Seen,tasted,or Touched in a Conventional Sense;

question 19

Short Answer

The inability to be seen,tasted,or touched in a conventional sense; the characteristic of services that most strongly differentiates them from products is referred to as ________.

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Definitions:

Facts

Pieces of information that are verifiably true and can be proven with evidence or observation.

Rational Individuals

The concept that individuals make decisions based on the maximization of their utility or benefit, taking into consideration all available information and factors.

Preferences

The individual tastes and choices made by consumers in regard to different goods and services.

Macroeconomics

The part of economics concerned with the performance and behavior of the economy as a whole. Focuses on economic growth, the business cycle, interest rates, inflation, and the behavior of major economic aggregates such as the household, business, and government sectors.